The price of Ethereum (ETH) is below 3,500 USD amid ongoing leadership disputes within the Ethereum Foundation and increasing activity in the Solana ecosystem. Concerns over a sharp 38% decrease in DApp volumes to 36.5 billion USD over the past week are impacting sentiment.
Despite maintaining a total value locked at 66 billion USD, Ethereum faces stiff competition from Solana, whose transaction activity has surged. Leadership issues at the Ethereum Foundation, particularly involving Vitalik Buterin’s authority, have added to the uncertainty surrounding ETH’s future performance.